The Truth About Investor's Hub
Tuesday, April 14, 2009
Leave a Comment
Can I be nice about this? Probably not.
I’ve posted often about message boards and forums, and the danger that lies within them. I wanted to share today’s experience, in hopes that you will recognize the forces that lie within our market system, and how deception and corruption are at the heart of it.
Before purchasing a stock, I typically will cruise the message board circuit to see if there is any pertinent information regarding the company’s financial information, new products, problems, etc. Today, I was researching on the I-Hub website regarding a stock that I had been involved in earlier, ERPL. Knowing that they had recently issued a press release regarding the impending impact to shareholders, I channeled through the posts and couldn’t find this news. There hadn’t been any activity today, so I decided to post this bulletin, and gave technical information that appears will help the stock for the short term.
I was met with angry replies from the moderator, named “Cowboy”, who then told me I was crossing the line, and was a “basher” or someone that issues negative information to drive down the price. I then receive a nasty gram from another poster, named “prls123”, who also accused me of the same thing, and that I could take my business somewhere else. I was repeatedly asked to defend my position, and how wrong I was. Before I could sufficiently provide any additional information, “Cowboy” had deleted all of my posts, and stated that he was “cleaning up the board”. I’ve experienced hard responses from I-Hubbers, but this was over the line in my opinion. Here I was, a shareholder, and I was being told that I couldn’t post relevant company information.
Now, if you look at my Covestor application on this site, I own shares of this company, and do want the stock to succeed. But this was irrelevant for these knuckleheads. This is a prime example that I wish to share with you….95% of message boards are fluffy and all great things for a company are “right around the corner”. Maybe the company stock will “go through the roof”. You’ll often hear, “if the price goes lower, I’ll pick up more shares”. DON’T BELIEVE IT. The worst thing for new investors, or even ones that have traded for awhile, is to fall into the trap of message board “hope”. I often tried to find solace in message boards after I had purchased a stock, and the value seemingly tanked. This is what message boards thrive on, and it’s false hope. They are anxious to provide false hope to newbies, and they have skilled themselves in such a way to make real people, with real information look like a negative force to a stock.
I had previously linked Investor’s Hub on this blog. They have effectively been removed. I have only one message board that I frequently rely on, and that is Dr. Pennystock’s forum. If you are looking for sound advice, and trustworthy sources, look no further. The attendees are real people, with real money, and pumping and bashing are prohibited. As a regular on his board, I find it to be the best forum on the web.
0 comments »
Leave your response!